GE Capital Retail Finance and Alliance Data Systems Corp. each announced extensions Tuesday to long-term proprietary card programs.
The General Electric Co. unit extended a 12-year-old agreement with the 1,239-store Men's Wearhouse Inc. to continue providing the Houston retail chain's private-label card for another seven years, GE said in a press release.
The Men's Wearhouse Perfect Fit credit card lets cardholders earn a 5% discount on purchases made at the company's stores and through its website, along with a $50 reward certificate for every $500 spent and discounts on formalwear rentals.
Alliance Data announced it has extended its agreement to provide private-label credit card services in the U.S. for Victoria's Secret, a subsidiary of Limited Brands Inc. that operates through a website and 1,000 U.S. lingerie stores.
Alliance Data said it is a long-term deal. It would not be more specific.
The two announcements illustrate how certain private-label card issuers continue to generate profits despite a slowdown in overall consumer credit card use.
